'Try not to feel too guilty': Kerry Katona offers friend Katie Price advice ...

Kerry Katona is supporting her friend Katie Price following her recent bankruptcy declaration and has urged her not to 'feel too guilty' about her financial state.

The former glamour model was declared bankrupt last Tuesday after she spent her £45 million fortune and failed to pay back the agreed £12,000-a-month to her creditors. 

Now Katie, 41, has turned to former Atomic Kitten Kerry, 39, who clawed her way back from her own money woes and bankruptcy declaration, for advice. 

Chin up: Kerry Katona is supporting her friend Katie Price following her recent bankruptcy declaration and has urged her not to 'feel too guilty' about her financial state

Chin up: Kerry Katona is supporting her friend Katie Price following her recent bankruptcy declaration and has urged her not to 'feel too guilty' about her financial state

Kerry insisted just needs to focus on herself and her five kids and 'surround herself with good people who she trusts'.   

Writing in her New! magazine column, Kerry said: 'She's just been made bankrupt, but she should take this opportunity to start afresh.

'My advice would be to surround herself with good people who she trusts and try not to feel too guilty.

'All my money was stolen from me, so it's a slightly different situation to blowing £45 million, but hopefully Katie will go easy on herself, as bankruptcy is a truly horrible experience,' she added.

Money trouble: The former glamour model was declared bankrupt last Tuesday after she spent her £45million fortune and failed to pay back the agreed £12,000-a-month to her creditors

Money trouble: The former glamour model was declared bankrupt last Tuesday after she spent her £45million fortune and failed to pay back the agreed £12,000-a-month to her creditors

Kerry was declared bankrupt in 2008 after failing to pay the final £86,000 of a £417,000 tax bill. 

She then went through the difficult process for a second time in 2013 after a series of further financial setbacks.  

They included the loss of both her lucrative contract with supermarket Iceland and a  magazine column, as well as receiving a repossession order on her £1.5million home.

Friendly tips: Kerry advised Katie: 'My advice would be to surround herself with good people who she trusts and try not to feel too guilty

Friendly tips: Kerry advised Katie: 'My advice would be to surround herself with good people who she trusts and try not to feel too guilty

Katie's money saga is set to be documented in her reality TV show My Crazy Life in emotional scenes which sees Katie admit she has no choice but to be declared bankrupt and lay much of the blame for the loss of her fortune on her exes, who include former husbands Alex Reid, Peter Andre and Kieran Hayler.

It comes after the star demanded last week that

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